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Huntsville Real Estate Sales Statistics – June 2009

By: Huntsville Real Estate Expert Mike Manosky On July 24, 2009

Pending home sales show a sustained uptrend, rising for four consecutive months with very favorable housing affordability and a first-time buyer tax credit boosting activity, according to the National Association of Realtors®.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in May, increased 0.1 percent to 90.7 from an upwardly revised reading of 90.6 in April, and is 6.7 percent higher than May 2008 when it was 85.0. The last time there were four consecutive monthly gains was in October 2004.

Lawrence Yun, NAR chief economist, cautions that there could be delays in the number of contracts that go to closing. “Closed existing-home sales have improved but are coming in lower than expected because some contracts are delayed or falling through from the application of new appraisal rules for many transactions,” he said. “Rises in contract activity show buyers are becoming more active even as they face much more stringent loan underwriting standards. Speedy clarification of the appraisal rules could smooth a housing market recovery and support the overall economy.”

Madison County/Huntsville Real Estate Sales Statistics 

Madison County and Huntsville real estate saw a decrease of 25% in sold listings when compared to June 2008.  The average sales price increased by 2% to $212,762.  Average price per square foot decreased by 2%.  And the average list price increased by 2%.  While homes were on the market an average of 7 days less than June 2008. 
 

Date

Sold
Listings

Average
List Price

Average
Sale Price

Percent
SP/LP

Average
DOM

Average
Price
SqFt

June 2009

405

$218,211

$212,762

97.50%

89

$90

June 2008

543

$212,925

$208,469

97.91%

96

$92

This is a great time to consider buying or a home in Huntsville or Madison AL. Housing affordability is at an all-time high, interest rates are at near record lows and now first-time buyers can use their $8,000 tax credit towards a down payment.

Don’t hesitate and lose out. Give me a call and learn how you can take advantage of the $8,000 tax credit for first-time home buyers.

For more information about Huntsville real estate, please visit MoveToHuntsville.com or call me at 256-508-0211.To begin searching Huntsville real estate and homes, please use my complimentary MLS search.   

Statistics are based on information for the North Alabama Association of Realtors and are deemed reliable but not guaranteed.  

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